Sports Betting in South Africa: The Psychology of failure and how to succeed

Sport Betting in South Africa: The Psychology of failure and how to succeed

All human gaming creations have one thing in common, a pattern. This pattern is fueled by human perceptions, behavior, interests and tendencies. It is this pattern that sport betting companies have leveraged on to create the odds.

If you do not understand the reins of knowledge that determines the odds and the stake, then you are on your way to a downward troll path. You also have to learn the stereotypes that unintentionally get formed in the process of sport betting.

The Overconfident Stereotype: This is the most common of all stereotypes in the sport betting industry. Why? Because, most people believe they understand the sports. Still not sure about the existence of this stereotype? Take a trip down memory lane. Remember that time when you were so convinced that by age 18 you would be independent. How about now? Do you feel completely independent at 25? Same thing applies in sports betting. In easier terms overconfidence is an unrealistic expectation or prediction an individual has concerning an outcome. This is an extremely dangerous turn to take in the south African sport betting industry.

Specifically the overconfidence stereotype has led to many failures amongst bettors in south Africa and the world. If you are still in doubt ask your colleagues in the sport betting market if they are above average compared to others. You already know how many would say yes.

As a South African bettor, being honest with yourself and the risks involved for every time you stake your hard earned money is the first step to being very lucky. You need to understand that the bookies are smart and well seasoned in the field.
Thriving at sport betting against all game odds is heavily dependent on you as a south African bettor. You can not recklessly place bets based on “perceived knowledge” you always have to weigh your options on a scale balance of “risks” and “success”. If the risks outweigh the success tremendously then, it may become to step down. Don’t fall for that old trick “the higher the risk, the bigger the cash out/win”. This psychological betting pattern leads to a series of losses. Most people never recover from such incurred failures

There is also something called *calculated risk”. This type of psychology pattern helps you organize and map out the various port betting strategies can use as you place various bets and stakes.

The wide gap between what they think they know and what they really know is the biggest challenge of all.


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